Units produced per year Prime costs Direct labor hours Machine hours Production runs Inspection hours Maintenance hours Direct labor hours: Scientific calculator Business calculator Total Machine hours: Scientific calculator Business calculator Total Overhead costs: Setup costs Inspection costs Power Maintenance Total Plantwide rate Overhead cost per unit: Scientific Product-Related Data Business Business Scientific 74,000 $239,000 99,800 49,500 100 2,000 2,250 Department Data Department 1 Department 2 77,300 139,720 217,020 23,000 381,800 4 404,800 $232,500 170,000 260,000 208,000 $870,500 740,000 $2,390,000 998,000 495,000 150 3,000 9,000 Required: 1. Compute the overhead cost per unit for each product using a plantwide, unit-based rate using direct labor h per direct labor hour per unit per unit 22,500 858,280 880,780 26,500 113,200 139,700 $232,500 170,000 133,000 219,500 $755,000

Units produced per year Prime costs Direct labor hours Machine hours Production runs Inspection hours Maintenance hours Direct labor hours: Scientific calculator Business calculator Total Machine hours: Scientific calculator Business calculator Total Overhead costs: Setup costs Inspection costs Power Maintenance Total Plantwide rate Overhead cost per unit: Scientific Product-Related Data Business Business Scientific 74,000 $239,000 99,800 49,500 100 2,000 2,250 Department Data Department 1 Department 2 77,300 139,720 217,020 23,000 381,800 4 404,800 $232,500 170,000 260,000 208,000 $870,500 740,000 $2,390,000 998,000 495,000 150 3,000 9,000 Required: 1. Compute the overhead cost per unit for each product using a plantwide, unit-based rate using direct labor h per direct labor hour per unit per unit 22,500 858,280 880,780 26,500 113,200 139,700 $232,500 170,000 133,000 219,500 $755,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Solve all questions
4
Domestic
MANUFACTURNG OVERHEADS Thumamina Limited manufactures various produds that are produced in two production departments: Department Q and Department V. In addition to these two production departments, the company has a service department, which provides support to the production departments. The following additional information is available: Department Q Department V Service department Number of employees 150 100 Floor space 2050 m 1250 m2 1100 m2 Value of machinery R900 000 R300 000 R250 000 Kilowatt hours 1300 1000 400 Labour hours 5000 4 000 150 Machine hours 4 000 2 000 100 The budgeted manufacturing overheads for 2018 are as follows: Rent of building R1010 000 Electricity R95 000 Depreciation of machinery (based on machine hours) R230 000 Salaries of supervisors R380 500 Insurance buildings (based on value of machinery) R150 755 Indirect material: Department Q R88 000 Department V R35 000 Service department R27 000 Required Calculate the primary allocation of overheads per…
3 Kamili Company has the following three manufacturing overhead cost drivers. Cost Driver Design changes Machine setups Electricity usage Level of Activity $2,680 $3,080 $3,260 $1,550 $3,580 $2,860 100 changes per year 2,000 setups per year 12,000 kilowatt-hours per year Overhead Cost $ 5,000 18,000 36,000 Kamili Company started and completed work on 25 different jobs during the year. One of these jobs was Job #781. Job #781 required 16 design changes, 40 machine setups, and 700 kilowatt-hours of electricity. How much manufacturing overhead should be allocated to Job #781? Note: Kamili uses activity-based costing.
direct material in units 97,000 direct labor hourse 30,000 machine hours 26,000 number of set ups 300 number of devices produced 16,000 The 210,000 units of material had a total cost of 1,365,000. Direct labor is 17 per hour. The company has total overhead production cost of 1,850,000 Cost Pool 1. Equipment Maintenance 2. Production Set up 3. Material Handling 4. Transportation Cost Cost driver 1. # of machine hours 2. # of set ups 3. units of materials 4. # of devices produced Cost 1. 585,000 2. 125,000 3. 540,000 4. 600,000 Volume 1. 39,000 2. 900 3. 210,000 4. 24,000 Compute the unit cost.
Subject: Cost AccountingPlease answer the questions given. Thank you!
Watson's Computer Company uses ABC to account for its manufacturing process. Activities Indirect activitybudget Allocation base (cost driver) Materials handling $55,000 Based on number of parts Machine setup $32,000 Based on number of setups Assembling $9820 Based on number of parts Packaging $15,100 Based on number of finished units Watson's Computer Company expects to produce 2330 computers. Watson's Computer Company also expects to use 11,000 parts and have 10 setups.The allocation rate for materials handling will be (Round all answers to two decimal places.) Question 16 options: $5.00 $6.48 $8.40 $23.61
Problem 1 Brabensky Company produces a product in two departments: (1) Assembly and (2) Painting. The company uses a process cost accounting system. Purchased raw materials for $90,000 on account. Raw materials requisitioned for production were: Direct materials Assembly department $77,000 Factory labor used: Assembly department $34,000 Painting department 18,000 Manufacturing overhead is applied to the product based on machine hours used in each department: Assembly department—320 machine hours at $40 per machine hour. Painting department—120 machine hours at $15 per machine hour. Units costing $86,000 were completed in the Painting Department and were transferred to the Finished Good. Finished goods costing $70,000 were sold on cash for $102,000. Instructions Prepare the journal…
Cornerstones of Cost Management 4th Ed. - Chapter 4 Scenario II: Goodmark Company produces two types of birthday cards: scented and regular. Goodmark uses the Overhead Control account to accumulate both actual and applied overhead. The company has the following data for the past year: Actual overhead $760,000 Sales $3,500,000 Materials used $1,100,000 Applied Overhead (in each account): Work in process $72,000 Finished goods 216,000 Cost of goods sold 432,000 Required: 1. Calculate the overhead variance for the year and label it under- or overapplied. Overhead variance: $ ________ (underpaid or overpaid) 2. Assuming the variance is not material, the following closing entry would be made: Debit _________ for $___________ and credit _______ for $ __________ 3. If the overhead variance is material, indicate how much of the variance would be __________ to each of the following accounts (if an amount is zero, enter "0"): Work in…
sequential method please Chekov Company has two support departments, Human Resources and General Factory, and two producing departments, Fabricating and Assembly. Direct costs Normal activity: Number of employees Square footage Human Resources General Factory Support Departments Human Resources $160,000 1,200 Direct costs Allocate: General Factory $330,000 General Factory Human Resources Total after allocation 40 Human Resources Producing Departments Fabricating Assembly The costs of the Human Resources Department are allocated on the basis of number of employees, and the costs of General Factory are allocated on the basis of square footage. Now assume that Chekov Company uses the sequential method to allocate support department costs. The support departments are ranked in order of highest cost to lowest cost. Required: $114,400 1. Calculate the allocation ratios (rounded to four significant digits) for the four departments using the sequential method. If an amount is zero, enter "0".…
Required information [The following information applies to the questions displayed below.] Arctica manufactures snowmobiles and ATVS. These products are made in different departments, and each department has its own manager. Each responsibility performance report includes only those costs that the department manager can control: direct materials, direct labor, supplies used, and utilities. Budget For Year Ended December 31 Direct materials Direct labor Totals Department manager salaries Supplies used Utilities Rent Totals Snowmobile $ 19,810 10,700 ▸ 4,600 3,630 Controllable Costs Responsibility Accounting Performance Report Manager, Snowmobile Department For Year Ended December 31 Budgeted $ 390 6,000 $ 45,130 Prepare a responsibility accounting performance report for the snowmobile department. Note: Under budget amounts should be indicated by a minus sign. 0 $ ATV $ 27,800 20,800 5,500 Actual 930 570 6,600 $ 62,200 Actual Snowmobile $ 19,720 10,990 4,700 3,470 360 5,600 $ 44,840 Over…